Stocks fall in volatile session, oil sits at $123 and gold at $2,040
Gold surged to $2,040, highest since August 2020
Adviser Investments CIO Jim Lowell joined 'Mornings with Maria' to discuss the markets and risk of recession this year amid international uncertainties.
U.S. stocks, in a volatile session, ended lower as investors debated whether President Biden's U.S. ban on Russian oil imports will lower oil prices over the long-term.
RUSSIA INVADES UKRAINE: LIVE UPDATES
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 47850.94 | -31.96 | -0.07% |
| SP500 | S&P 500 | 6857.12 | +7.40 | +0.11% |
| I:COMP | NASDAQ COMPOSITE INDEX | 23505.1358 | +51.04 | +0.22% |
The Nasdaq Composite, which entered a bear market Monday, fell 0.3%, while the S&P 500 slipped 0.7%, and the Dow Jones Industrial Average over 185 points or 0.6%.
Equities swung between losses and gains after Biden's announcement. Sen. Rob Portman, R-Ohio, tells FOX Business the markets briefly weighed whether the announcement signals the U.S. will focus on their own natural resources, even with the ongoing crackdown on pipelines and drilling.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| XLE | ENERGY SELECT SECTOR SPDR ETF | 92.22 | +0.39 | +0.42% |
Oil remained higher but eased to $123.70 per barrel.
ENERGY INDUSTRY SWIPES BACK AT PSAKI 'RED HERRING' COMMENT ON OIL AND GAS LEASES
A gallon of regular gas now costs an average of $4.17 across the country after breaching the $4 barrier on Sunday for the first time since 2008, per AAA.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| USO | UNITED STATES OIL FUND - USD ACC | 71.39 | +0.72 | +1.02% |
| BNO | UNITED STATES BRENT OIL FUND - USD ACC | 29.21 | +0.21 | +0.72% |
| UGA | UNITED STATES GASOLINE FUND - USD ACC | 65.97 | +0.06 | +0.09% |
In related news, Shell Oil confirmed it will withdraw from involvement in all Russian hydrocarbons due to the country's invasion of Ukraine.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SHEL | SHELL PLC | 74.50 | -0.62 | -0.83% |
WORLD BANK ASSEMBLING $725M EMERGENCY PACKAGE TO UKRAINE
Gold also rose above the $2,040 mark in a flight-to-safety move, now at the highest level since August 2020.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GLD | SPDR GOLD SHARES TRUST - USD ACC | 387.13 | +0.25 | +0.06% |
In other stock news, Dick's Sporting Goods reported better than expected profits, earning $3.16 per share, while sale store sales jumped 5.9%, also exceeding estimates.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DKS | DICK'S SPORTING GOODS | 225.98 | -1.99 | -0.87% |
Apple ended lower after rolling out more 5G connectivity to its cheaper iPhone SE while the iPad Air got upgraded with faster chips.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 280.70 | -3.45 | -1.21% |
In deal news, Google LLC is buying Mandiant, a "leader in dynamic cyber defense and response," in a deal valued at $5.4 billion or $23 per share. "The acquisition of Mandiant will complement Google Cloud’s existing strengths in security," Google noted in the announcement.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GOOGL | ALPHABET INC. | 317.62 | -2.01 | -0.63% |
| MNDT | NO DATA AVAILABLE | - | - | - |
U.S. companies continued to distance themselves from Russia on Tuesday, as McDonald's, Pepsi, Starbucks and Amazon joined the movement, along with dating app Bumble.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MCD | MCDONALD'S CORP. | 308.53 | +0.71 | +0.23% |
| PEP | PEPSICO INC. | 146.91 | -1.15 | -0.78% |
| SBUX | STARBUCKS CORP. | 85.00 | -2.11 | -2.42% |
| AMZN | AMAZON.COM INC. | 229.11 | -3.27 | -1.41% |
| BMBL | BUMBLE INC. | 3.71 | -0.05 | -1.33% |
In cryptocurrencies, Bitcoin hovered around $38,000.
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The Associated Press contributed to this report.